Solum (248070) Q4 2024 earnings summary

Executive summary

• SoluM Co., Ltd. is a global manufacturer specializing in electronic components, with a focus on power modules, 3IN1 boards, ESL, and IoT products, operating through 18 consolidated subsidiaries worldwide as of 2024.

• The company is expanding into new business areas such as healthcare wearables and secondary battery reuse, targeting high-growth global markets.

Financial highlights

• 2024 consolidated revenue was KRW 1,594.4 billion, down 18.3% year-over-year from KRW 1,951.1 billion in 2023.

• Operating income for 2024 was KRW 69.1 billion, a 55.3% decrease year-over-year from KRW 154.5 billion.

• Net income attributable to controlling interests was KRW 39.5 billion, down 67.2% from KRW 120.4 billion in 2023.

• Basic and diluted EPS for 2024 were KRW 812, compared to KRW 2,464 in 2023.

• Cash and cash equivalents at year-end were KRW 85.9 billion, down from KRW 131.9 billion the previous year.

Segment performance

• Electronic components segment revenue was KRW 1,148.7 billion (72% of total), with operating profit of KRW 24.4 billion.

• ICT segment (ESL, IoT) revenue was KRW 445.8 billion, with operating profit of KRW 44.6 billion.

• Major customer (Samsung Electronics and affiliates) accounted for over 53% of total sales.